Verizon Edge offers device upgrades after only six months, which is similar to T-Mobile's Jump but without the monthly fee. The plan also borrows from AT&T Next, which is also free of finance charges or upgrade fees.

The fine print

While AT&T Next spreads the retail price of a device over 20 months, Verizon Edge extends that to 24 months but allows customers to upgrade as early as six months later - as long as 50 percent of the device has been paid.

Verizon Edge does require the first month's payment at the time of purchase, but skips the long-term agreement required by AT&T, offering month-to-month service plans instead.

According to Verizon, customers will have to already be on Share Everything plans in order to sign up for Edge.

By comparison, AT&T Next is available even to those grandfathered in with unlimited data plans.

Verizon's move leaves Sprint standing alone with a traditional wireless carrier model, although it has gone in its own direction this month by offering new unlimited everything plans with a lifetime guarantee instead.